Mitsubishi UFJ Asset Management Co. Ltd. Has $47.94 Million Holdings in HP Inc. (NYSE:HPQ)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in HP Inc. by 14.7%, owning approximately 1.73 million shares valued at $47.94 million by the end of the last quarter.
• HP recently reported an earnings per share (EPS) of $0.71 for the last quarter, falling short of analysts' estimates of $0.80, while revenue increased by 3.3% to $13.22 billion.
• The company declared a quarterly dividend of $0.2894, yielding 4.4%, with an ex-dividend date set for September 10th, demonstrating a strong commitment to returning value to shareholders.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in HP Inc. (NYSE:HPQ - Free Report) by 14.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,731,302 shares of the computer maker's stock after purchasing an additional 221,876 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of HP worth $47,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HPQ. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of HP in the first quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of HP in the fourth quarter valued at $36,000. Iron Horse Wealth Management LLC bought a new position in shares of HP in the first quarter valued at $39,000. Financial Freedom LLC grew its stake in shares of HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after buying an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of HP by 165.3% in the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock valued at $42,000 after buying an additional 947 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the subject of several analyst reports. Barclays set a $28.00 target price on shares of HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Bank of America dropped their price objective on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Wells Fargo & Company cut their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their price objective on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Finally, Evercore ISI lowered their target price on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $29.54.

HP Stock Performance

Shares of HP stock opened at $26.11 on Friday. The firm has a 50-day moving average of $25.05 and a 200-day moving average of $27.36. The stock has a market cap of $24.52 billion, a PE ratio of 10.08, a PEG ratio of 2.11 and a beta of 1.29. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is 44.79%.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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